LendUp offers a unique borrowing platform where you can rebuild your credit history as you move up the LendUp Ladder in eligible states. There are also free financial education courses you can take advantage of.

Over time, you can earn points to climb the LendUp Ladder to apply for larger loans at lower rates. Credit reporting to the major bureaus is offered at the top two levels (optionally at Platinum and automatically at Prime), which could eventually increase your credit history.

Earning points is as simple as making on-time loan payments, taking the free financial education courses and referring friends to the service.

Borrowing from LendUp

You can borrow anywhere from $100 to $250 with a loan term ranging from 7 to 30 days.

Once you repay your first loan, you can earn points that help place you higher up the LendUp Ladder. If you’re eligible to move up the ladder, you may be able to borrow more money for a longer term and at a lower rate.

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Why a LendUp loan might work for you

LendUp loans have received positive mention from CNN, TIME, Wired and Financial Times. While these loans are essentially short-term payday loans, they come with a number of unique features.

Good credit not required. LendUp approves people with poor credit. Their mission is to provide money to qualified applicants when they need it.

Instant decision on loan. The application takes no more than a few minutes to complete, and you can find out if you’re approved instantly.

Credit education. LendUp offers free credit education courses through its website where everyone (whether they’re customers or not) can learn about topics including credit-related rights, how to establish credit, how to go through their credit reports and how to find out about the true cost of borrowing.

Online personal dashboard. You can check your loan’s status at any time by signing into LendUp’s online platform.

The costs of borrowing from LendUp

All loans that LendUp provides have fees that you have to pay in addition to the principal amount you borrow. You can find out how much you’ll end up paying by going through the list of fees and charges detailed on the website.

Depending on where you live, you might have to pay a Credit Access Business (CAB) fee.

There will be an NSF fee if you make a late or missing payment. Always be sure you’ll be able to repay a loan before you take it out.

How to apply for a loan from LendUp

You can apply for a LendUp loan online. The process only takes about 10 minutes if you meet the eligibility criteria and have the required documents close at hand.

Eligibility criteria:

At least 18 years old (varies by state)

A valid checking account

Permanent resident or citizen of the US

Required documentation:

Personal details, including your name, date of birth and social security number

Contact details, including your home address, email address, and phone number

Financial details, including your account numbers

Frequently asked questions

What kind of bank account do I need to apply?

To apply for a LendUp Loan, you’ll need to have a checking account that accepts ACH transfers. Unfortunately, prepaid debit cards and savings accounts cannot be used.

How can I find out about my application’s status?

After you complete your application, you simply have to log in and visit LendUp’s customized dashboard.

How long does it take for LendUp to transfer funds to my account?

It depends on the delivery option you choose. Among LendUp’s choices, you’ll find:

Standard delivery. LendUp processes and funds approved loans through the Automated Clearing House (ACH) weekdays by 5 p.m. PT. While many banks post funds the next day, it could take a day or two for you to see your money.

15-Minute Transfer. Available in select states, this optional service allows you to choose a third-party service that can transfer funds to your bank within 15 minutes of your application’s approval. LendUp does not guarantee 15-minute delivery, however: Actual deposit times vary by bank. You’ll also pay a fee for this service that depends on your specific loan.

Same-day transfers for Wells Fargo customers only. If you have a Wells Fargo checking account, you can pay a fee for a same-day deposit as long as you complete an application by 11 a.m. PT on business days only. Your funds should appear in your bank account by 2 p.m. PT the same day.

After paying off my first loan, how quickly can I apply for another?

Once you pay your first LendUp loan completely, there is usually a waiting period of three to four days before you can apply for another loan. There may be other restrictions as well, depending on your state.

How do I make payments?

An automatic payment program draws funds from the same account where you receive your money in the first place. They also accept payment by MoneyGram and personal check.

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6 Responses

ErlaJuly 29, 2017

What do you mean you don’t accept bank statements? The fifth item on the list of acceptable proofs is the last two months of bank statements. I sent you more than two months and now you are saying that isn’t approved. I have had eight loans with you people and have always paid them on time and have caused you no problems. What makes this one any different? I don’t know where you came up with the 7,670 figure as it doesn’t match any of the incomes I receive, Social Security is 10,548, Southern Lakes Publications is 5,163 and the SER program is 7,296.

While we do not represent any company that we feature on our pages, we can offer you a general information. In general, to apply for Payday Loan you must have the following:
- You have a valid checking account
- You are a permanent resident or a citizen of the US

Should there be any clarification or you need to follow-up your ongoing application. It would be nice to contact the lender directly.

Kindly note that with LendUp, members with Gold status may borrow up to a maximum amount of single payment and/or installment loans. For some states like Ohio, if you are on a Gold status, you can only borrow up to $500 single-payment loan. This means that the loan is payable on the next payday.

Kindly check the lender’s website to see what type of loan is available to you based on your state of residence. If it is an installment loan, you can repay it over a period of time.

By clicking the “Go to site” it will take you to your Online Application on the product issuer’s website. You do not need to be an existing customer of this provider to apply.You can also check their contact number directly to their website.

Disclaimer - We endeavor to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. If you are unsure you should get independent advice before you apply for any product or commit to any plan.

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Important Information

finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, we may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.